Equity
VASI CONSTRUCT has made a profit in every financial year since 2018.
VASI CONSTRUCT has made a profit in every financial year since 2018.
The accounts state no turnover.
The 2018 accounts came latest: 300 days after the end of the period.
A director left. Latest change 15-03-2026 · 1 in office.
Higher net result than 83% of companies in real estate. Sector median €6,009 · 17,169 companies.
The dashed line is the sector median: 0.2% across 26,625 companies (NACE 68, micro).
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 68, micro). It does better than 61% of them on solvency, 76% on liquidity, 84% on profitability and 85% on growth.
The bankruptcy probability was computed on 07-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
In July 2024, 26,972 companies had the same profile as VASI CONSTRUCT has now. Each dot stands for 68 companies, two years later.
Another 0.1% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of VASI CONSTRUCT itself is lower: 0.1% within 12 months. It rests on far more data about VASI CONSTRUCT than the profile alone.
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 26,972 companies, not a prediction for VASI CONSTRUCT. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Liquidity is ample, with a current ratio of 1.66 (1.34 in 2024), above the usual 1.5. Short-term debt is 53.9% and cash 33.5% of total assets. However, 53.9% of the assets are financed with debt and provisions.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
The company filed its last 7 accounts on average 115 days after the deadline. In the sector (NACE 68), the median for financial year 2024 was 7 days before the deadline, and 36% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| VASI CONSTRUCT Brussels | €366,240 | €124,609 | 46.1% | - |
| DAS NITA Anderlecht | €424,728 | €124,969 | 74.7% | - |
| Tim Verhelle Construct Oostkamp | €354,767 | €120,998 | 49.1% | - |
| EGU CONSTRUCT Welkenraedt | €416,280 | €110,494 | 31.7% | - |
| GENOBO Hechtel-Eksel | €412,113 | €94,337 | 15.0% | - |
| M.G.I. Bièvre | €397,190 | €105,648 | 66.9% | - |
| C RENOVATIONS Knokke-Heist | €420,465 | €135,560 | 30.5% | - |
These companies have the same main activity as VASI CONSTRUCT: development of residential building projects (NACE 68121). They are comparable in size and age: total assets between €355,000 and €425,000, founded between 2017 and 2019.
VASI CONSTRUCT files the micro format. That format states no turnover. The gross margin rose from €554 in 2018 to €124,609 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Higher than 63% of 17,178 companies in 2025.
Higher than 62% of 16,475 companies in 2025.
Higher than 81% of 16,854 companies in 2025.
Net result: top quarter · Equity: middle half · Balance sheet total: middle half · Working capital: top quarter
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2018 |
|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||||
20/58 |
366,240 | 297,522 | 255,328 | 136,795 | 28,700 | 18,006 | 3,074 | |
21/28 |
38,494 | 52,791 | 25,432 | 5,344 | 2,341 | 3,267 | - | |
22/27 |
38,494 | 52,791 | 25,432 | 5,344 | 2,341 | 3,267 | - | |
23 |
10,122 | 13,591 | 17,060 | - | - | - | - | |
24 |
28,372 | 39,200 | 8,372 | 5,344 | 2,341 | 3,267 | - | |
29/58 |
327,746 | 244,731 | 229,897 | 131,451 | 26,359 | 14,739 | 3,074 | |
40/41 |
203,095 | 159,239 | 155,475 | 91,817 | 7,299 | 436 | 1,719 | |
40 |
169,871 | 137,200 | 123,848 | 88,456 | 61 | - | 50 | |
41 |
33,223 | 22,039 | 31,627 | 3,361 | 7,238 | 436 | 1,669 | |
54/58 |
122,632 | 84,297 | 74,422 | 38,932 | 19,060 | 14,221 | 1,355 | |
490/1 |
2,020 | 1,195 | - | 701 | - | 82 | - | |
| Balance sheet: equity and liabilities | ||||||||
10/49 |
366,240 | 297,522 | 255,328 | 136,795 | 28,700 | 18,006 | 3,074 | |
10/15 |
168,785 | 115,173 | 66,436 | 45,127 | 19,099 | 15,035 | 1,494 | |
10/11 |
1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | |
10 |
- | - | - | - | 1,000 | - | - | |
100 |
- | - | - | - | 1,000 | 18,550 | 18,550 | |
101 |
- | - | - | - | - | 17,550 | 17,550 | |
14 |
167,785 | 114,173 | 65,436 | 44,127 | 18,099 | 14,035 | 494 | |
17/49 |
197,454 | 182,349 | 188,892 | 91,668 | 9,601 | 2,971 | 1,580 | |
42/48 |
197,454 | 182,349 | 188,892 | 91,668 | 9,601 | 2,971 | 1,580 | |
44 |
115,185 | 92,427 | 114,110 | 22,577 | 651 | - | 530 | |
440/4 |
115,185 | 92,427 | 114,110 | 22,577 | 651 | - | 530 | |
45 |
54,662 | 46,753 | 15,684 | 9,993 | - | - | 1,050 | |
450/3 |
34,870 | 29,092 | 15,684 | 9,993 | - | - | 1,050 | |
454/9 |
19,792 | 17,661 | - | - | - | - | - | |
47/48 |
27,607 | 43,168 | 59,098 | 59,098 | 8,950 | 2,971 | - | |
| Income statement | ||||||||
70 |
- | - | - | - | - | - | 36,444 | |
9900 |
124,609 | 74,581 | 33,058 | 40,709 | 11,762 | 12,992 | 554 | |
62 |
34,580 | - | - | - | 745 | - | - | |
630 |
14,297 | 10,806 | 2,671 | 2,396 | 1,987 | 1,633 | - | |
640/8 |
4,293 | 527 | 1,034 | 2,118 | 1,335 | 105 | 50 | |
9901 |
71,438 | 63,248 | 29,353 | 36,195 | 7,695 | 11,254 | 504 | |
75/76B |
266 | - | - | - | - | - | - | |
75 |
266 | - | - | - | - | - | - | |
65/66B |
1,263 | 146 | 39 | 175 | 153 | 163 | 10 | |
65 |
1,263 | 146 | 39 | 175 | 153 | 163 | 10 | |
9903 |
70,441 | 63,102 | 29,314 | 36,021 | 7,542 | 11,091 | 494 | |
67/77 |
16,828 | 14,338 | 8,005 | 9,993 | 534 | - | - | |
9904 |
53,613 | 48,764 | 21,309 | 26,027 | 7,008 | 11,091 | 494 | |
9905 |
53,613 | 48,764 | 21,309 | 26,027 | 7,008 | 11,091 | 494 | |
| Appropriation of the result | ||||||||
9906 |
167,785 | 114,173 | 65,436 | 44,127 | 18,099 | 14,035 | 494 | |
14P |
114,173 | 65,408 | 44,127 | 18,099 | 11,091 | - | - | |
| Document | ||||||||
The notes to these accounts have 8 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 10-07-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 10-07-2026 | 2026-00277959 | |
| 31-12-2024 | micro format | 11-07-2025 | 2025-00258639 | |
| 31-12-2023 | micro format | 23-12-2024 | 2024-00624636 | |
| 31-12-2022 | micro format | 19-10-2023 | 2023-00488494 | |
| 31-12-2021 | micro format | 21-11-2022 | 2022-20525721 | |
| 31-12-2020 | full format | 22-02-2022 | 2022-06100424 | |
| 31-12-2018 | full format | 26-05-2020 | 2020-13500183 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2018 |
|---|---|---|---|---|---|---|---|---|
| 85,736 | 74,054 | 32,024 | 38,592 | 9,682 | 12,887 | - | ||
| 67,910 | 59,570 | 23,980 | 28,424 | 8,995 | 12,724 | - | ||
| 0 | 38,166 | 22,758 | 5,400 | 1,061 | 4,900 | - | ||
| 38,335 | 9,875 | 35,489 | 19,872 | 4,839 | - | - | ||
| 130,292 | 62,382 | 41,005 | 39,782 | 16,758 | 11,768 | 1,494 | ||
| - | - | - | - | - | - | 1.4% | ||
| 46.1% | 38.7% | 26.0% | 33.0% | 66.5% | 83.5% | - | ||
| 1.66 | 1.34 | 1.22 | 1.43 | 2.75 | 4.96 | - | ||
| 1.17 | 1.58 | 2.84 | 2.03 | 0.50 | 0.20 | - | ||
| 31.8% | 42.3% | 32.1% | 57.7% | 36.7% | 73.8% | - | ||
| 14.6% | 16.4% | 8.3% | 19.0% | 24.4% | 61.6% | - | ||
| 67.86 | over 100 | over 100 | over 100 | 63.28 | - | - | ||
| - | - | - | - | - | - | 1 day |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | €38,166 | €22,758 | €5,400 | €1,061 |
| Financial fixed assets | €0 | - | - | - | - |
| €14,297 | €10,806 | €2,671 | €2,396 | €1,987 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is 13% higher than in 2024 and the highest since 2018. It is the second rise in a row, after the fall in 2023.
Debt's share of the balance-sheet total falls from 61.3% to 53.9%. Equity and debt are higher.
VASI CONSTRUCT has no parent and no holdings in its annual accounts. CHELARU Vasilica is the only director. VASI CONSTRUCT shares no director with another company.
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Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number |
|---|---|---|
| Koning Albert II-laan 4 registered office 1000 Brussels | ||
| Klaverstraat 86 1070 Anderlecht | 12-06-2018 | 2.279.733.392 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 21813A0484/00G000 | 9,776 m² | 1 · 3,052 m² | 61.6 m · 9 |
| 21307E0232/00F007 | 823 m² | 1 · 176 m² | 13.9 m · 1 |
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice. Use the enterprise number 0695.822.174
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